Foldable iPhone and CEO Transition Put Apple’s Next Product Cycle in Focus

Apple Enters a New Product Cycle Under John Ternus

Apple (AAPL) shares traded about 1.2% lower Tuesday ahead of the company’s “Surprise and shine” event, where newly appointed CEO John Ternus is expected to host his first major iPhone launch since taking over from Tim Cook on Sept. 1.

The event is expected to feature the iPhone 18 Pro and Pro Max, Apple’s first foldable iPhone and updated Apple Watch models. Investor attention is also turning to pricing, memory costs, premium-device demand and the possibility that Apple could delay its lower-priced iPhone 18 models until spring 2027.

Key Points

• Apple is widely expected to unveil its first foldable iPhone alongside the iPhone 18 Pro and Pro Max at its Sept. 9 product event.
• Bank of America expects potential Pro-model price increases of $150 to $200 as memory and storage costs rise, while the foldable could be priced above $2,000.
• The event will be John Ternus’s first major product presentation as Apple CEO, putting both the new hardware cycle and the company’s leadership transition in focus.

Apple’s Foldable iPhone Could Reshape the Premium Product Mix

The most closely watched product at Apple’s upcoming event is its expected first foldable iPhone.

Reports cited in the supplied material indicate the device could be branded Fold or Ultra and use a book-style design with a 5.5-inch outer OLED display and a 7.8-inch inner OLED screen. Bank of America expects the device to use Apple’s A20 Pro processor with 12GB of memory and storage configurations ranging from 256GB to 2TB.

The foldable could become Apple’s most expensive iPhone. Media reports referenced in the supplied material point to a starting price around $2,099, placing it at the top of Apple’s smartphone lineup and close to the pricing of premium foldable devices already offered by competitors.

The iPhone 18 Pro and Pro Max are expected to retain 6.3-inch and 6.9-inch displays while adding the 2-nanometer A20 Pro processor, larger batteries, a smaller Dynamic Island and camera enhancements.

Apple could also unveil Apple Watch Series 12, Apple Watch Ultra 4 and AirPods 5, while additional smart-home products may also be previewed or launched.

Why Is Apple’s Launch Timing Becoming an Investor Issue?

Another important focus is the timing of Apple’s product launches.

Bank of America said Apple may move the lower-priced iPhone 18, iPhone 18 Air and iPhone 18e to spring 2027 rather than launching them alongside the premium models this fall. That would mark a significant departure from Apple’s traditional approach of introducing standard and Pro iPhones at the same time.

The change could leave Apple’s premium models as the primary new iPhones available during the holiday period. Bank of America analyst Wamsi Mohan said the split launch could support product mix and average selling prices, while also creating a risk that more price-sensitive consumers delay upgrades until lower-priced devices arrive.

The issue is particularly relevant because the iPhone remains Apple’s largest business. The supplied financial data show iPhone revenue of $54.25 billion in the latest reported quarter, representing about 49.6% of company revenue.

Apple’s broader quarterly revenue reached $109.4 billion, up 16% year over year, while companywide gross margin reached 50.1%.

Memory Costs and Competition Add Pressure to the Product Cycle

The new hardware cycle is arriving as Apple faces higher memory costs and intensifying competition in premium smartphones.

The supplied material says some smartphone-memory prices have more than quadrupled as AI data centers consume a larger share of global chip capacity. Samsung, SK Hynix and Micron control roughly 90% of the memory market, while manufacturers can earn more by directing scarce wafer capacity toward high-bandwidth memory used by AI customers.

Bank of America expects the iPhone 18 Pro and Pro Max to carry price increases of roughly $150 to $200 because of higher memory and storage costs.

Apple is also entering the foldable market after competitors have already established products in the category. Samsung’s Galaxy Z Fold 8 starts at $1,899, while its Z Fold 8 Ultra starts at $2,099. Huawei’s Mate XT2 was priced at $2,980, while Xiaomi introduced its 18 Fold at $1,540.

Competition is particularly significant in China. The supplied material says Huawei held 22.6% of China’s smartphone market in the second quarter compared with Apple’s 18.1%, while Huawei accounted for 68% of foldable smartphone shipments.

What It Means for Investors

Apple’s Sept. 9 event brings together several developments that could shape how investors evaluate the company’s next product cycle.

The expected foldable iPhone would expand Apple into a premium smartphone category where rivals already operate, while possible price increases on the Pro lineup would test how customers respond to rising component costs.

The potential shift toward a split iPhone launch schedule also changes the timing of Apple’s product cycle. If lower-priced models move to spring 2027, investors will have a new cadence to evaluate when comparing holiday demand, product mix and average selling prices.

The leadership transition adds another layer. Ternus took over as CEO on Sept. 1 after previously leading Apple’s hardware organization. The Sept. 9 event therefore becomes both a product launch and the first major public milestone of his tenure.

Apple enters that transition with significant financial scale. The company generated $109.4 billion of revenue in its latest reported quarter, including $54.25 billion from iPhone and $30.74 billion from Services. Services gross margin was 75.6%, while Apple also continued substantial share repurchases.

Conclusion

Apple’s upcoming event is centered on more than a routine iPhone refresh.

The expected debut of a foldable iPhone, potential Pro-model price increases, rising memory costs and a possible change in launch timing all create new variables for Apple’s product strategy.

At the same time, the event marks John Ternus’s first major product presentation as CEO. For investors following AAPL stock news, the immediate focus will be on what Apple actually unveils, how the company prices its new devices and whether it confirms a split launch schedule for the broader iPhone 18 lineup.

FAQs

When is Apple’s next product event?

Apple is expected to hold its “Surprise and shine” product event on Sept. 9, 2026.

Is Apple expected to launch a foldable iPhone?

Yes. The supplied material says Apple is widely expected to unveil its first foldable iPhone, potentially branded Fold or Ultra, alongside the iPhone 18 Pro lineup.

How much could Apple’s foldable iPhone cost?

Media reports cited in the supplied material indicate the foldable iPhone could start around $2,099, which would make it Apple’s most expensive iPhone.

Why could iPhone 18 Pro prices increase?

Bank of America expects possible price increases of $150 to $200 for the iPhone 18 Pro and Pro Max because of higher memory and storage costs.

What could change about Apple’s iPhone launch schedule?

Apple may delay the lower-priced iPhone 18, iPhone 18 Air and iPhone 18e until spring 2027, leaving the premium Pro and foldable models to launch first.

This article was created with AI assistance and reviewed by an editor. For details, please refer to our Terms of Use.

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